We have this view of ourselves, of others.

This is what we believe.

Well there's a couple of ways to do it.

Microeconomics .. and those actors could be firms, could be people, it could be households.

Micro is that people, individual actors are acting out of their own self interest.

And macro economics is probably more guilty of it.

Well the economy, you know, so....

Here's an economic principle.

With the Put Out system?

(Laughter)

Economic games. So what we do is we go into two areas.

Econometrics package

Von Mises, interestingly, believes economics is just a subset of psychology.

The topics range from math

I reject it, in which case no one gets anything. Okay?

I am so much better off physically, financially, mentally and in almost every other way.

a latticework on which to hang your ideas.

My employer an economist.

Economics is the study of economic mechanisms.

And what about capital costs?

We're starting to sell electric cars, which is great.

That was not about society itself.

For the Christ, the temptations are economic, political and spiritual.

Two at MlT, one at University of Chicago, one at Carnegie Mellon.

So this is exactly what I did.

Let me do one last thing I hadn't thought I'd have time to do, which is to talk about what we learned more generally about economics, from the study of the gang.

Those gloom and doom economists aren't worth their salt.

So this is a hemispheric issue.

The bottom of the pyramid is benefiting hugely from technology.

What about religion, poverty, economics...?

He studied economics at college.

What I would like to see is idealism decoupled from all constraints.

We can see that we can take this equation and it can apply to things in economics, or it can apply to things in finance or it can apply to things in computer science or logic or electrical engineering or anything accounting

We cannot keep giving lentils to people.

Secondly, you have to bring structure into place.

We're going to perceive it as a good thing to go after.

Not with the market the way it is, no.

COuld lead to more wealth, more, a larger pie for everyone.

But this does not apply the other way around.

Westerners own two thirds of its wealth.

Here's another one.

Here's a guy you all need to study.

In turn, we enrich ourselves, our family, our friends, our communities.

Look, Bangladesh catching up with India.

It's a key strategy of the companies that make our electronics.